Effective revenue augmentation for businesses
Organizations aim to remain a going concern and enhance their revenue/earning and eventually their shareholders worth. An organization’s financial strength is evaluated through momentum of their revenue growth. To keep any business running, you need to continue to increase the top-line.
An organization needs to start with a clear strategy and sustainable goals in mind. A sudden increase in price might temporarily augment your revenue. This would largely be offset by reduced volumes of sales. Understanding competitive landscape and product pricing is of paramount importance within your marketplace, hence would help determine your individual position in the market. Some of the key initiatives, which would help increase revenue in the long run:
- Determine clear goals so once the business overcomes the startup stage – it is sustainable enough to build gradual retained earnings & reserves.
- Have a competitive pricing – most companies fail by offering too high or too low a price for their product or service.
- Focus on repeat customers by going an extra mile for them– build on your brand loyalty – which in addition to revenue would always bring ancillary business.
- Bundle complimentary services or products as it increases sales without significant overheads.
- Have a well thought discount strategy aligned to market environment and customer sentiments.
- Implement a dynamic market strategy covering old-school and new techniques like website, pay-per-click, email marketing, social media, PR, traditional marketing etc.
- Continue to review your online presence and remain updated with latest trends.
Revenue being a key driver for sustainability and development plans, is often the focus area as companies look for revenue augmentation advisory service in Dubai. They seek experts to help them enhance their top-line and plug any leakages. As the level of revenues determines the profits, which in turn, reflects the financial strength of the organization, the lenders and rating agent always analyze the financial soundness before investing their money in any project or giving a credit opinion respectively. Organizations often waste their time trying to control trivial deviations to augment revenue, which may lead to additional costs rather than increased revenue. Professional revenue augmentation service is a strategic area that needs in-depth analysis of both operational and financial systems of an organization hence warrant an expert advisor.
As revenue augmentation advisors Quantum Auditing has proven its capabilities in giving feasible solution to our clients for increasing their revenues. Depending upon the type of organization and the particular requirement of the client, we engage a team of professionals who have the necessary expertise in different functional areas and previous experience in that field of business. They take deep dive and analyze cash flow cycles, capital structure, balance-sheet items, sales and marketing policies, labor productivity, overhead expenses, and many other aspects affecting cost and revenue. By capturing the entire cash-flow and business cycle, they present the entire case study with highlights of weak and potential areas of improvement. A bespoke solution is recommended to improve the current situation in a reasonable turn-around-time and help clients successfully implement it.